Notes to the Financial Statements For the financial year ended 31 December 2025 14. INTEREST-BEARING BORROWINGS (CONT’D) The weighted average all in cost of debt as at 31 December 2025 was 3.3% per annum (2024: 3.8% per annum). Terms and debt repayment schedule Terms and conditions of outstanding loans and borrowings are as follows: 2025 2024 Nominal interest rate Year of maturity Face value Gross carrying amount Face value Gross carrying amount % $’000 $’000 $’000 $’000 Group Secured JPY term loan facilities TIBOR^ + margin 2025 – – 30,275 30,234 JPY term loan facilities 0.66% – 1.45% 2026 to 2028 274,059 273,213 288,045 286,637 SGD term loan facilities SORA* + margin 2029 341,500 337,592 341,500 336,840 Unsecured SGD term loan facilities SORA* + margin 2026 to 2029 685,000 681,967 785,000 780,377 AUD term loan facilities BBSY Bid# + margin 2027 352,870 351,538 348,010 345,702 JPY term loan facilities TIBOR^/TONA~ + margin 2026 to 2028 185,998 184,936 195,490 193,773 SGD revolving credit facilities SORA* + margin 2026 to 2029 171,720 170,696 156,390 155,677 SGD medium term notes 2.60% – 4.05% 2026 to 2030 225,000 224,620 125,000 124,760 2,236,147 2,224,562 2,269,710 2,254,000 Trust Unsecured SGD term loan facilities SORA* + margin 2026 to 2029 685,000 681,967 785,000 780,377 AUD term loan facilities BBSY Bid# + margin 2027 52,006 51,789 51,290 50,912 JPY term loan facilities TIBOR^/TONA~ + margin 2026 to 2028 185,998 184,936 195,490 193,773 SGD revolving credit facilities SORA* + margin 2026 to 2029 171,720 170,696 156,390 155,677 SGD medium term notes 2.60% – 4.05% 2026 to 2030 225,000 224,620 125,000 124,760 1,319,724 1,314,008 1,313,170 1,305,499 ^ Tokyo Interbank Offered Rate ~ Tokyo Overnight Average Rate * Singapore Overnight Rate Average # Bank Bill Swap Bid Rate The nominal interest rate for the floating rate loans drawn in SGD is determined by an interest margin plus SORA, floating rate loans drawn in AUD is determined by an interest margin plus BBSY Bid and floating rate loans drawn in JPY is determined by an interest margin TIBOR/TONA. 186 ESR-REIT ANNUAL REPORT 2025
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